Online aggregator for private jet charter PrivateFly.com is set to expand after closing a £2 million fundraising round generated from eight private investors.

Online aggregator for private jet charter PrivateFly.com is set to expand after closing a £2 million fundraising round generated from eight private investors.

The company, which launched in 2008, has a network that accesses over 7,000 aircrafts around the globe and the new funds will be used to implement upgrades across all platforms of their business.

PrivateFly’s CEO Adam Twidell remarks, ‘The money raised will be used to invest in innovative technology which will bring considerable efficiency benefits to customers and registered aircraft operators.’

He adds, ‘It will also allow us to open up our distribution through investment in marketing, including new territories.’

Investors in the online business come from diverse backgrounds and they include Sam Friend, founder of wotif.com, and David Scowsill who is the president of the World Travel and Tourism Council.

Sam Friend comments, ‘I have a number of investments in emerging travel and technology businesses and my criteria is unique technology with an opportunity for disruption, combined with a committed and passionate management team and PrivateFly ticks all these boxes.’

Another investor was PrivateFly’s chairman Richard Carrick who believes the company gained from the recession.

He says, ‘The recession has been a catalyst for change in the private aviation industry, with increased cost-consciousness and PrivateFly.com has used this to its advantage, delivering significant enhancements in response speed, price and ease of use within the charter segment.’